 |
| 816 Congress Avenue, Austin, TX |
ATLANTA, GA -- Cousins Properties Incorporated (the
“Company”) (NYSE: CUZ) today announced that it has commenced an underwritten
public offering of 14.0 million shares of its common stock. The underwriters
are expected to be granted a 30-day option to purchase up to an additional 2.1
million shares.
The Company intends to use a significant portion of the net
proceeds of the offering to acquire 816 Congress Avenue, a Class-A
office building in Austin, Texas.
The property is currently under contract, and the
acquisition is expected to close mid-April 2013. In addition, the Company
intends to use a portion of the net proceeds to redeem in full its outstanding
7.75% Series A Cumulative Redeemable Preferred Stock.
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells
Fargo Securities are acting as joint book-running managers for the offering.
For a complete copy of the company’s news release, please
contact:
Cousins Properties Incorporated
Cameron Golden, 404-407-1984
Vice President of Investor Relations and Corporate
Communications
No comments:
Post a Comment